@ Brianbiswirk: Yes it will. I have Xfce and Gnome on here, and when I log in I can choose which to run. Run
This will install the Xfce DE, and the necessary Xfce packages (like thunar file manager). I really like Xfce, I find it a lot more customisable than Gnome, and more intuitive, but that's just me. They say Xfce is lighter too, but I haven't noticed any performance increase (I think because it is Xfce on Uuntu with Gnome, as opposed to a minimal Ubuntu install with Xfce overtop).
sud apt-get install xubuntu-desktop
To install KDE as well, use
But be warned, this will download all the Kubuntu applications (like Konsole, Abiword, etc.) and these will appear in your menus as well as the Gnome apps whichever DE you are in. Some find this a convenience, but I personally didn't like it. Also, the format of the kubuntu-desktop package (it's an empty package that just points to the required packages such as Konsole etc) means that if you want to remove KDE, you must manually remove all of the Kubuntu apps, rather than running apt-get remove kubuntu-desktop.
sud apt-get install kubuntu-desktop